U.S. housing construction surges in June

The U.S. Census Bureau and the U.S. Department of Housing and Urban Developmentjointly announced the following new residential construction statistics for June 2017:

Building Permits

Privately-owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 1,254,000. This is 7.4 percent (±1.1 percent) above the revised May rate of 1,168,000 and is 5.1 percent (±1.4 percent) above the June 2016 rate of 1,193,000.

Single-family authorizations in June were at a rate of 811,000; this is 4.1 percent (±0.8 percent) above the revised May figure of 779,000. Authorizations of units in buildings with five units or more were at a rate of 409,000 in June.

Housing Starts

Privately-owned housing starts in June were at a seasonally adjusted annual rate of 1,215,000. This is 8.3 percent (±15.8 percent)* above the revised May estimate of 1,122,000 and is 2.1 percent (±14.0 percent)* above the June 2016 rate of 1,190,000.

Single-family housing starts in June were at a rate of 849,000; this is 6.3 percent (±13.5 percent)* above the revised May figure of 799,000. The June rate for units in buildings with five units or more was 359,000.

Housing Completions

Privately-owned housing completions in June were at a seasonally adjusted annual rate of 1,203,000. This is 5.2 percent (±13.9 percent)* above the revised May estimate of 1,144,000 and is 8.1 percent (±13.9 percent)* above the June 2016 rate of 1,113,000.

Single-family housing completions in June were at a rate of 798,000; this is 0.4 percent (±11.0 percent)* above the revised May rate of 795,000. The June rate for units in buildings with five units or more was 396,000.

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